To make a reliable price prediction, you need to follow a few fundamental criteria. A green CVIX means low volatility and low market sentiment, which is good for larger trades and gathering large positions. Besides, the risk/reward ratio must be above 1:1 to be considered adequate. In this article, I’ll explain the technical indicators that indicate increased interest in the MANA coin. Then, I’ll share my thoughts on the potential growth of the Mana coin.
Mana coin will reach $50 in 2022
Decentraland (MANA) is an ERC-20 token that is based on the Ethereum blockchain. This token allows users to pay for goods and land on the virtual world. As of today, it holds the 35th spot on CoinGecko. According to a recent report, the demand for virtual “land” has increased. In fact, one plot of virtual land recently sold for $2 million! This indicates that the popularity of this token has increased because of its upcoming use as a currency.
The price of Decentraland has increased substantially in recent days, with many new investors deciding to purchase this cryptocurrency. The price of MANA coin has also experienced strong bullish signals. Moreover, it is backed by a powerful community of decentralized investors. Therefore, many new investors are buying it as their first Metaverse token. It could even break the recent ATH level. Its decentralized investors are also making it possible for this cryptocurrency to achieve such heights.
Trading volume indicates increased interest in MANA
If the current accumulation in MANA remains positive, then it is likely that the cryptocurrency will reach $4 in the next few months. As of now, its price is below 60% of its ATH, and it is more than 30% below the beginning of 2022. If this continues, it may even rise to $10 by the end of the year. If this scenario is realised, then the coin will trade above $5 by the middle of the next decade.
The MANA price is currently trading between $2.7 and $3.5, with a couple of retracements in November and December. As more investment flooded into the crypto market, the price of MANA soared. As a result, trading volume has also increased. In the long term, the crypto could reach $10 in 2025. As more investors become interested in it, the price is expected to continue to rise.
Keltner channel signals
In technical analysis, the Keltner channel is a useful tool for determining trend direction. It measures volatility above and below candlesticks, and the Keltner channel signals for Decentraland (MANA) suggest that the current uptrend could continue. The price of DECENT has also broken through the upper Keltner channel curve and has a bearish candlestick. If you want to use Keltner channels for price prediction, you should follow the steps described in this article.
The first and most important step in making a Keltner channel for mana crypto price prediction is to identify a demand zone between $2.89 and $2.80. During the Bitcoin (BTC) dump last week, MANA tested this demand area. Despite its recent price decline, buyers have stepped in to fill the gap. As long as there is no weekly close below $2.80, the price will be in an uptrend. A break below this level would indicate price inefficiencies lower.
Moving averages
The MANA cryptocurrency is currently under pressure, falling below the 50-day Exponential Moving Average (EMA) of $2.85. If the underlying currency does not hold this support, a spike in sell orders could drive the price lower. The first downside targets could be $2.20 and $1.80. The Daily Relative Strength Index has improved from 34 to 46 since February 21. The MACD indicator has a neutral bias, hovering below the midline and below the signal line.
The price of MANA has been rising steadily since early 2018. This growth has inspired many cryptocurrency investors, including newbies. However, it can also be a great starting point for investors and digital content creators. Traders use many tools and indicators to help determine market trends. The 200-day SMA is a popular indicator, and the current price of MANA has crossed the indicator in recent days. To calculate the 200-day SMA, simply add the closing prices of the past two hundred days.